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Handling and investigating complaints that are energy, telephone, financial, insurance, securities or retail franchising related. The State Corporation Commission's structure is unique in that it is organized as a separate department of government with delegated administrative, legislative, and judicial powers.
The first state commissioner of insurance was appointed in New Hampshire in 1851 and the state-based insurance regulatory system grew as quickly as the insurance industry itself. [4] Prior to this period, insurance was primarily regulated by corporate charter, state statutory law and de facto regulation by the courts in judicial decisions.
Virginia employers that are required to insure their workers' compensation liability may be eligible to participate in a group self-insurance association. The Virginia Workers' Compensation Act established this program in section 65.2-802 [11] of the Code of Virginia. The program is administered by the State Corporation Commission, Bureau of ...
The current minimum amount of auto insurance required in Virginia is $25,000 in liability coverage per person, $50,000 per accident and $20,0000 in property damage.
If you choose to purchase a car insurance policy instead, it must comply with Virginia auto insurance requirements. For policies effective January 1, 2022 to December 31, 2024, drivers must carry ...
An insurance commissioner (or commissioner of insurance) is a public official in the executive branch of a state or territory in the United States who, along with their office, regulate the insurance industry. The powers granted to the office of an insurance commissioner differ in each state.
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Insurance bad faith is a tort [1] unique to the law of the United States (but with parallels elsewhere, particularly Canada) that an insurance company commits by violating the "implied covenant of good faith and fair dealing" which automatically exists by operation of law in every insurance contract.